TechForward to Accelerate Upgrade Cycle for Consumer Electronics
Tweet1/7/08 – Manhattan Beach-based TechForward, which provides consumer electronics trade-in plans, has used this week’s CES show as a platform to unveil a wide-ranging enhancement to its service line which it says is designed to help retailers, product manufacturers, and consumers overcome obstacles to more frequent upgrade purchasing of popular consumer electronics.
The company’s Guaranteed Buyback service is a high-margin point of sale add-on service that is sold at the time of purchase in the same manner as an extended warranty to make it easy for customers to return their devices and get cash or store credit that can be used toward their next purchase. The newly-expanded service now encompasses categories that represent 50 percent of the estimated $160 billion annual consumer electronics market, the company says.
TechForward says the program is built upon patent-pending predictive models of the future value of used electronic devices in secondary markets. Its proprietary engine mines data on used consumer electronics device sales from a variety of secondary markets for price points and trends, and incorporates market intelligence and product release roadmaps. It then applies sophisticated statistical analysis algorithms to project future depreciation schedules and resale prices.
The company was established last year, and is backed by First Round Capital.
TechForward – www.techforward.com
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